Wealthsimple Review 2022: Day Trading Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading web app that differentiates itself from other apps by charging no fees. 

A leading Canadian fintech business founded in the Autumn twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved significantly over the last eight years to also include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets investors to trade both individual stocks and ETFs without having to pay any commissions. The exception to this is when trading securities that are displayed in USD. In which case, they charge a currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 per each trade with discount brokerages as was expected only a few years ago.

Exactly How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?

Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it tough for the typical investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One can select between both RRSP and TFSA account types during the setup process. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered on iOS and Android. The app makes the signup phase and also the trading of stocks and ETFs super simple.

But Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD in Assets Under Management . They have been operating for more than 7 years and at this time employs more than 600 folks. The main owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.

But How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so straight forward to fund an account. Simply connect a chequing or savings account with your Trade account, then fund your account in simply a few steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can the same way can be withdrawn your chequing or savings account by using the same steps.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to e-transfers which allow one to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax year and file your tax return online for free. It’s advertised to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to get 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of different online courses on different topics such as saving, investing, crypto, mortgages and much more. 

Each of the listed features, along with Wealthsimple Trade may be found in the mobile app and from the website with your Wealthsimple login.

But How Can I Begin Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. For a special registration bonus for our audience you will receive the cash value of a share worth up to $4,500 CAD when you add funds to your account.

What if I Still Have Additional Questions Related to Day Trading Wealthsimple?

If this article still hasn’t answered each of your questions, and you’re still looking for more specific facts about Day Trading Wealthsimple, go to the Wealthsimple site to find answers to every one of your questions.